Money & Markets Week Ahead Week of July 28, 2021: The profit season is back in full swing.Shatter expectations for tech giants Apple Inc. (Nasdaq: AAPL).. It also provides insights into the end of the long-awaited Robin Hood IPO this week.
We will also look at consumer confidence in July.
Here are some things to watch out for over the next week on Wall Street:
Big Market Debut: Robinhood IPO
There are some Initial public offering■ This week’s calendar (IPO).
Robinhood Market We plan to price the IPO on Thursday. Listed on the NASDAQ with Fintech Zoom symbol HOOD.
what is that: Robin Hood was founded and is based in Menlo Park, California.
The company operates an online stock trading app with a mission to “democratize everyone’s finances.”
According to that S-1 / A filing Robin Hood, along with the Securities and Exchange Commission, has 18 million funded trading accounts and 17.7 million monthly active users of the app.
In 2020, Ryan Specialty generated total revenue of $ 958.8 million from the $ 277.5 million reported in 2019.
In the three months to 31 March 2021, the company reported total revenue of $ 522.2 million, compared to the $ 127.6 million reported in the same three months of 2020. This is a 309.2% increase in top-line revenue.
The company increased its year-over-year net profit from minus $ 106.5 million in 2019 to $ 7.4 million in 2020.
Offering: The company plans to sell 55 million shares in the $ 38- $ 42 price range per share.
Its purpose is to raise about $ 2.2 billion in this offering.
according to Renaissance CapitalAt a midpoint of $ 40 per share, Robin Hood sees a market capitalization of $ 33.4 billion.
Goldman Sachs, JP Morgan, Barclays, Citi and Wells Fargo Securities are all lead managers of this transaction.
skinny: Check out for my views on the Robinhood IPO This episode of Bull & Bear Podcast..
Details: Apple Inc.Revenue
The earnings season is back in full swing and most of FAANG’s names will report quarterly numbers this week.
Apple’s revenue has recovered since the second quarter of 2020
Apple has exceeded earnings per share expectations in the last four quarters after the 2020 COVID-19 crash. This is a great sign, given that there were nine consecutive earnings mistakes dating back to the second quarter of 2018.
The tech giant surprised analysts last quarter, reporting $ 1.40 EPS against a forecast of just $ 0.98.
This trend shows that Apple’s earnings per share in the fourth quarter were much higher due to strong sales during the holiday season.
The forecast for the second quarter of 2021 is about the same as the $ 1 EPS for the previous quarter, so we’ll see if the AAPL repeats.
Revenue is another story.
Apple doesn’t like to be disappointed in this regard, and it missed revenue expectations only once in the last four years.
AAPL does not miss revenue
The tech giant reported revenue of $ 89.5 billion in late April. This was $ 12 billion higher than analysts expected.
Quarterly earnings trends are similar to EPS and are higher in the fourth quarter of each year due to the holiday retail season.
Wall Street celebrities have lowered their forecasts for Tuesday’s report to $ 73 billion to see if Apple can blow them off again.
What to expect: Towards the second half of 2021, Apple is facing some issues.
High-tech companies are addressing supply constraints following the high pandemic of COVID-19. Floods in China can also affect their production, as many of China’s factories are located in China.
Money & Markets Week Ahead: Data dump
The Conference Board reveals monthly July readings Consumer Confidence Survey on Tuesday.
This study measures consumer attitudes, buying intentions, vacation plans, consumer expectations for inflation, stock prices, and interest rates.
Consumer confidence hit a 12-month high in June
Consumer confidence reached its 12-month high in June, with the index showing 127.3.
This is a level of self-confidence not seen before the COVID-19 pandemic. This shows that consumers are more optimistic about the future of the country’s economy.
Consumer confidence is expected to shrink slightly to 125.8 in July.
At the end Money & Markets Week AheadLet’s take a look at some keys here Revenue This Week’s Report:
Lockheed Martin Corporation (NYSE: LMT)
Alphabet Inc. (Nasdaq: Google)
Facebook Inc. (Nasdaq: FB)
PayPal Holdings Inc. (Nasdaq: PYPL)
Comcast Corp. (Nasdaq: CMCSA)
T-Mobile US Inc. (Nasdaq: TMUS)
Yam! Brands Inc. (NYSE: YUM)
Berkshire Hathaway Inc. (NYSE: BRKa)
Exxon Mobil Corp. (NYSE: XOM)
AbbVie Inc. (NYSE: AbbVie)
That’s all for this week.
Until next time…
Matt Clark, CMSA®
Survey analyst, Money & Market
Matt Clark is a research analyst Money & Market.. He is a Certified Capital Markets & Securities Analyst at the Corporate Finance Institute and In search of alpha..Before joining Money & Market, He has been a journalist and editor for 25 years, responsible for college sports, business and politics.